JANUARY 2014 ONLINE JOB OPENINGS REPORT
JOB OPENINGS Online job openings totaled 16,877 open and available positions in January 2014. Openings were lower by 9.1 percent (-1,681) over the prior month and 8.8 percent lower (-1,624) than one year ago. Of the 22 non-military major occupational groups, Office and Administrative Support reported the largest number of job openings with 1,799, followed by Transportation and Material Moving with 1,769 and Sales and Related with 1,408. Three other occupational groups also reported job opening counts greater than 1,000 (Management; Installation, Maintenance, and Repair; and Production). Two of 22 non-military major occupational groups reported over-the-year gains of 100 or more job openings. The Food Preparation and Serving Related occupational group reported the largest over-the-year decline. Divide County reported the largest over-the-year increase in the number of job openings with 193, followed by Morton County (+145) and Mercer County (+58). Twenty-five of 53 counties reported over-the-year decreases led by Burleigh.
ACTIVE RESUMÉS Active resumés totaled 10,195 in January 2014. Active resumés were lower by 3.8 percent (-405) over the prior month and 18.5 percent lower (-2,315) than one year ago. There were a total of 8,438 in-state active resumés and 1,757 out-of-state active resumés. Of the 22 non-military major occupational groups, Office and Administrative Support reported the largest number of active resumés with 2,141, followed by Construction and Extraction with 1,226 and Transportation and Material Moving with 1,082. Two of 22 non-military major occupational groups reported over-the-year gains in active resumés (Computer and Mathematical; and Farming, Fishing, and Forestry). Office and Administrative Support reported the largest year-over-year decrease in active resumés (-517), followed by Transportation and Material Moving (-393) and Construction and Extraction (-321).
SUPPLY/DEMAND RATES North Dakota’s rate of active resumés per job opening was 0.5 in January 2014. One year ago it was 0.5. Twenty of 22 nonmilitary major occupational groups reported rates of less than 1.0 while one year ago eighteen occupational groups were in that category. Twelve of 22 non-military major occupational groups reported rate decreases from the prior year. North Dakota’s job openings rate was 3.9 percent in December 2013, the latest month for which data are available. One year prior, North Dakota’s rate was 4.3. The U.S. rate for December was not available at the time of publication, but a November 2013 comparison showed North Dakota at 4.2 percent versus the U.S. rate of 2.5 percent. The job openings rate is the percentage of all jobs in the economy open and available. North Dakota’s rate of unemployed persons per job opening was 0.6 in December 2013, the latest month for which data are available. One year prior, North Dakota’s rate was 0.7. Again, the U.S. rate was not available at the time of publication, but a November 2013 comparison showed North Dakota at 0.4 unemployed persons per job opening versus the U.S. rate of 2.9. Twenty-one North Dakota counties reported unemployed-per-opening rates of less than 1.0 which indicates more job openings than resident labor supply. One year ago, thirteen counties reported rates of less than 1.0.
JOB OPENINGS DATA
JANUARY 2014 ONLINE JOB OPENINGS REPORT--JOB SERVICE NORTH DAKOTA
SOC CODE/OCCUPATIONAL GROUP 11 Management 13 Business and Financial Operations 15 Computer and Mathematical 17 Architecture and Engineering 19 Life, Physical, and Social Science 21 Community and Social Services 23 Legal 25 Education, Training, and Library 27 Arts, Design, Entertainment, Sports, and Media 29 Healthcare Practitioners and Technical 31 Healthcare Support 33 Protective Service 35 Food Preparation and Serving Related 37 Building and Grounds Cleaning and Maintenance 39 Personal Care and Service 41 Sales and Related 43 Office and Administrative Support 45 Farming, Fishing, and Forestry 47 Construction and Extraction 49 Installation, Maintenance, and Repair 51 Production 53 Transportation and Material Moving 55 Military Specific Not Classified TOTAL, ALL JOB OPENINGS
Ramsey -99 Nelson -38 Eddy +3 Foster -8 Griggs +13
Grand Forks -14
McKenzie -58 Dunn -1 Billings +33 Stark -193 Slope 0 Bowman +10 Hettinger -3 Adams -4 Mercer +58 Oliver -5
McLean +16
Sheridan -6
Wells +23
Steele -12
Traill 0
4
Golden Valley +14
Morton +145
Burleigh -665
Kidder +18
Stutsman -50
Barnes -75
Cass -439
Grant +26 Sioux -27
Emmons +7
Logan +8 McIntosh +38
LaMoure -6 Dickey +31
Ransom +8 Sargent +23
Richland -53
COUNTY OVER-THE-YEAR NUMERIC CHANGE (JANUARY 2014)
Decreases 0-9 10 - 49 50 - 99
[Map Creation Date: January 22, 2014
North Dakota Over-The-Year Numeric Change: -1,624
Source: Labor Market Information Center, Job Service North Dakota, Online Job Openings Report
Author: Labor Market Information Center, Job Service North Dakota]
Increases > 99
JOB OPENINGS DATA
JANUARY 2014 ONLINE JOB OPENINGS REPORT--JOB SERVICE NORTH DAKOTA
COUNTY NAME Adams Barnes Benson Billings Bottineau Bowman Burke Burleigh Cass Cavalier Dickey Divide Dunn Eddy Emmons Foster Golden Valley Grand Forks Grant Griggs Hettinger Kidder LaMoure Logan McHenry McIntosh McKenzie McLean Mercer Morton Mountrail Nelson Oliver Pembina Pierce Ramsey Ransom Renville Richland Rolette Sargent Sheridan Sioux Slope Stark Steele Stutsman Towner Traill Walsh Ward Wells Williams
SOC CODE/OCCUPATIONAL GROUP 11 Management 13 Business and Financial Operations 15 Computer and Mathematical 17 Architecture and Engineering 19 Life, Physical, and Social Science 21 Community and Social Services 23 Legal 25 Education, Training, and Library 27 Arts, Design, Entertainment, Sports, and Media 29 Healthcare Practitioners and Technical 31 Healthcare Support 33 Protective Service 35 Food Preparation and Serving Related 37 Building and Grounds Cleaning and Maintenance 39 Personal Care and Service 41 Sales and Related 43 Office and Administrative Support 45 Farming, Fishing, and Forestry 47 Construction and Extraction 49 Installation, Maintenance, and Repair 51 Production 53 Transportation and Material Moving 55 Military Specific Not Classified TOTAL, ALL ACTIVE RESUMÉS
SOC CODE/OCCUPATIONAL GROUP 11 Management 13 Business and Financial Operations 15 Computer and Mathematical 17 Architecture and Engineering 19 Life, Physical, and Social Science 21 Community and Social Services 23 Legal 25 Education, Training, and Library 27 Arts, Design, Entertainment, Sports, and Media 29 Healthcare Practitioners and Technical 31 Healthcare Support 33 Protective Service 35 Food Preparation and Serving Related 37 Building and Grounds Cleaning and Maintenance 39 Personal Care and Service 41 Sales and Related 43 Office and Administrative Support 45 Farming, Fishing, and Forestry 47 Construction and Extraction 49 Installation, Maintenance, and Repair 51 Production 53 Transportation and Material Moving 55 Military Specific Not Classified TOTAL, IN-STATE ACTIVE RESUMÉS
SOC CODE/OCCUPATIONAL GROUP 11 Management 13 Business and Financial Operations 15 Computer and Mathematical 17 Architecture and Engineering 19 Life, Physical, and Social Science 21 Community and Social Services 23 Legal 25 Education, Training, and Library 27 Arts, Design, Entertainment, Sports, and Media 29 Healthcare Practitioners and Technical 31 Healthcare Support 33 Protective Service 35 Food Preparation and Serving Related 37 Building and Grounds Cleaning and Maintenance 39 Personal Care and Service 41 Sales and Related 43 Office and Administrative Support 45 Farming, Fishing, and Forestry 47 Construction and Extraction 49 Installation, Maintenance, and Repair 51 Production 53 Transportation and Material Moving 55 Military Specific Not Classified TOTAL, OUT-OF-STATE ACTIVE RESUMÉS
SUPPLY/DEMAND RATES
JANUARY 2014 ONLINE JOB OPENINGS REPORT--JOB SERVICE NORTH DAKOTA
JOB OPENINGS RATE (%)
The job openings rate is simply the percentage of all jobs in the economy open and available and is calculated by taking the number of job openings divided by total nonfarm employment (filled jobs) from the Current Employment Statistics (CES) program plus job openings (unfilled jobs). A higher rate is an indicator of increased job opportunities for seekers. This supply/demand rate includes those working more than one job and commuting from out of state. The latest month for which North Dakota employment data are available is December 2013. The latest month for which U.S. job openings data are available is November 2013. U.S. data taken from the U.S. Bureau of Labor Statistics.
US 6.0
ND
FIVE-YEAR TREND
5.0
4.0
3.0
2.0
1.0
0.0 '08 DEC '09 DEC '10 DEC '11 DEC '12 DEC '13 DEC
DEC 2012 NORTH DAKOTA UNITED STATES UNEMPLOYED PER JOB OPENING 4.3 2.2
JUL 2013 4.4 2.9
AUG 2013 4.7 2.8
SEP 2013 4.8 2.8
OCT 2013 4.1 3.0
NOV 2013 4.2 2.5
DEC 2013 3.9 ---
Unemployed per job opening is a supply/demand rate calculated by taking the number of unemployed persons from the Local Area Unemployment Statistics (LAUS) program and dividing by job openings. A result less than 1 indicates more job openings than potential resident labor supply while a result greater than 1 indicates more potential resident labor supply than job openings. The latest month for which North Dakota unemployment data are available is December 2013. The latest month for which U.S. job openings data are available is November 2013. U.S. data taken from the U.S. Bureau of Labor Statistics.
US 8.0 7.0 6.0 5.0 4.0 3.0 2.0 1.0 0.0 '08 DEC
ND
FIVE-YEAR TREND
'09 DEC
'10 DEC
'11 DEC
'12 DEC
'13 DEC
DEC 2012 NORTH DAKOTA UNITED STATES
11
JUL 2013 0.6 3.0
AUG 2013 0.5 2.9
SEP 2013 0.4 2.8
OCT 2013 0.4 2.6
NOV 2013 0.4 2.9
DEC 2013 0.6 ---
0.7 3.8
NORTH DAKOTA COUNTY SUPPLY/DEMAND RATES
Unemployed Per Job Opening
Bottineau 0.9 Rolette 6.9 Divide 1.0 Burke 1.1 Renville 0.4 Towner 2.3 Cavalier 7.6 Pembina 3.4 Williams 0.2 Walsh 1.4
Mountrail 0.7
Ward 0.4
McHenry 2.5
Pierce 0.7
Benson 2.9
Ramsey 0.7 Nelson 3.8 Eddy 36.5 Foster 0.5 Griggs 1.1
Grand Forks 0.5
McKenzie 0.2 Dunn 0.7 Billings 0.6 Stark 0.2 Slope Hettinger 1.5 Adams 0.6 Mercer 0.6 Oliver 12.5
McLean 2.3
Sheridan
Wells 1.2
Steele 23.0
Traill 3.0
12
Golden Valley 1.4
Morton 1.5
Burleigh 0.4
Kidder 18.3
Stutsman 0.7
Barnes 0.6
Cass 0.5
Bowman 0.8
Grant 10.5 Sioux 1.3
Emmons 6.8
Logan 1.1 McIntosh 1.5
LaMoure 1.3 Dickey 0.6
Ransom 1.2 Sargent 1.8
Richland 1.2
North Dakota Supply/Demand Rate (Not Seasonally Adjusted): 0.6
COUNTY SUPPLY/DEMAND RATES (DECEMBER 2013)
< 1.0 1.0 - 2.4 2.5 - 4.9 5.0 - 9.9 A supply/demand rate could not be calculated for counties shaded in gray because zero job openings were reported in the reference period. > 9.9
Source: Labor Market Information Center, Job Service North Dakota, Online Job Openings Report
[Map Creation Date: January 27, 2014 Author: Labor Market Information Center, Job Service North Dakota]
SUPPLY/DEMAND RATES
JANUARY 2014 ONLINE JOB OPENINGS REPORT--JOB SERVICE NORTH DAKOTA
UNEMPLOYED PER JOB OPENING
Less than 1 indicates more job openings than potential resident labor supply while greater than 1 indicates more potential resident labor supply than job openings. The latest month for which North Dakota unemployment data are available is December 2013.
COUNTY NAME Adams Barnes Benson Billings Bottineau Bowman Burke Burleigh Cass Cavalier Dickey Divide Dunn Eddy Emmons Foster Golden Valley Grand Forks Grant Griggs Hettinger Kidder LaMoure Logan McHenry McIntosh McKenzie McLean Mercer Morton Mountrail Nelson Oliver Pembina Pierce Ramsey Ransom Renville Richland Rolette Sargent Sheridan Sioux Slope Stark Steele Stutsman Towner Traill Walsh Ward Wells Williams
13
SUPPLY/DEMAND RATES
ACTIVE RESUMÉS PER JOB OPENING
IN-STATE ACTIVE RESUMÉS
JANUARY 2014 ONLINE JOB OPENINGS REPORT--JOB SERVICE NORTH DAKOTA
Active resumés per job opening is a supply/demand rate that uses active online resumés as the supply input and is the most timely of the supply/demand rates. For this measure, only local active online resumés (i.e. resumés tied to an in-state North Dakota address) were used in the calculation in order to get a more accurate measure of the local supply situation. Out-of-state resumés were excluded from this calculation. A result less than 1 indicates more job openings than local active resumés, while a result greater than 1 indicates more local active resumés than job openings. Also, this is the only supply/demand rate that can generate results at the occupational group level.
FIVE-YEAR TREND 2.5
2.0
1.5
1.0
0.5
0.0 '09 JAN '10 JAN '11 JAN '12 JAN '13 JAN '14 JAN
SOC CODE/OCCUPATIONAL GROUP 11 Management 13 Business and Financial Operations 15 Computer and Mathematical 17 Architecture and Engineering 19 Life, Physical, and Social Science 21 Community and Social Services 23 Legal 25 Education, Training, and Library 27 Arts, Design, Entertainment, Sports, and Media 29 Healthcare Practitioners and Technical 31 Healthcare Support 33 Protective Service 35 Food Preparation and Serving Related 37 Building and Grounds Cleaning and Maintenance 39 Personal Care and Service 41 Sales and Related 43 Office and Administrative Support 45 Farming, Fishing, and Forestry 47 Construction and Extraction 49 Installation, Maintenance, and Repair 51 Production 53 Transportation and Material Moving NORTH DAKOTA
14
SUPPLY/DEMAND RATES
ACTIVE RESUMÉS PER JOB OPENING
IN-STATE ACTIVE RESUMÉS
JANUARY 2014 ONLINE JOB OPENINGS REPORT--JOB SERVICE NORTH DAKOTA
Less than 1 indicates more job openings than local active resumés, while a result greater than 1 indicates more local active resumés than job openings.
COUNTY NAME Adams Barnes Benson Billings Bottineau Bowman Burke Burleigh Cass Cavalier Dickey Divide Dunn Eddy Emmons Foster Golden Valley Grand Forks Grant Griggs Hettinger Kidder LaMoure Logan McHenry McIntosh McKenzie McLean Mercer Morton Mountrail Nelson Oliver Pembina Pierce Ramsey Ransom Renville Richland Rolette Sargent Sheridan Sioux Slope Stark Steele Stutsman Towner Traill Walsh Ward Wells Williams
15
ONLINE JOB OPENINGS REPORT NOTES
BACKGROUND
Online job openings statistics provide a timely overview of the current supply/demand dynamic of North Dakota's labor market. The Online Job Openings Report (OJOR) is the earliest monthly indicator of North Dakota’s labor market activity with data publication generally occurring the first working Tuesday of the month following the reference month (i.e. January data published the first working Tuesday in February). The report involves the monthly collection, processing, and dissemination of online job openings posted by employers and online resumé activities of job seekers. Both job openings and active resumés are published for the major occupational groups at the statewide and regional levels. Data for counties are only available at a total aggregate level. Various supply/demand rates are calculated for major occupational groups and select geographies. Job openings and active resumés data are used to calculate the rate of active resumés per job opening. Unemployment data from the Local Area Unemployment Statistics (LAUS) program is used to calculate the rate of unemployed per job opening and employment data from the Current Employment Statistics (CES) program is used to calculate the job openings rate. All these supply/demand rates provide users with alternate views of the local labor supply/demand situation. For comparability, national level job openings data from the U.S. Bureau of Labor Statistics (BLS) are extracted from the Job Openings and Labor Turnover Survey (JOLTS) and featured in the report. For a detailed description of the various supply/demand rates, see the ‘Terms and Concepts’ section.
METHODOLOGY AND COVERAGE
The OJOR is essentially a universe count of all North Dakota worksites with online advertised jobs posted either directly with Job Service North Dakota or indirectly through other online job sites. It should be stressed that coverage is limited to jobs posted online. Job vacancies advertised strictly through word-of-mouth, local print-only newspapers, outdoor signage, or any other non-online means are not counted. The database from the Job Service North Dakota online labor exchange system is the underlying source for the OJOR and its corresponding time series. The data are a combination of local openings brought into the system either internally or externally. An internal job opening is submitted directly to the labor exchange system by either local office staff or authorized local employers. An external job opening is "spidered" into the system from outside online job sites including corporate, educational institution, newspaper, government, private job board, and recruiter sites. Keep in mind, almost all of the online job openings and active resumés data are self-reported by the employer and job seeker, respectively, so accuracy cannot necessarily be guaranteed though system checks are in place to flag potential errors. Every effort is made to ensure the report is constructed using unduplicated data. The unduplication process involves the systematic analysis of key fields of each opening, such as company name, job title/description, and location, against all openings, flagging potential duplicate matches. An analyst reviews and eliminates legitimate duplicates. The OJOR is not subject to the typical sampling error and non-response error components associated with most statistical surveys. Non-sampling error sources would include population under-coverage due to missing a portion of the targeted population (e.g. a large Internet job board), and over-coverage due to the inability to fully eliminate duplicate job openings. Additional potential sources of non-sampling error would include occupational and/or geographic coding errors which could affect the proper classification of individual job openings. Occupational coding is done at the 6-digit 2010 Standard Occupational Classification (SOC) level and the 8-digit O*NET level. The SOC coding used in the OJOR is the same definitional coding used for federal employment and unemployment statistics. It should be noted that are no changes at the major occupational group level between the 2000 and 2010 SOC structures, though the detailed composition of the groups may have changed but not enough to be significant at the group level. The geographic coding for an internal opening is determined by information submitted directly to the labor exchange system by either local office staff or authorized local employers. An external opening is coded against location information from the original posting. Data are not seasonally adjusted and subject to revision. Dashes (---) indicate data not available.
TERMS AND CONCEPTS
DATA REFERENCE PERIOD. The OJOR collects data using a mid-month reference period (the week that includes the 12th of the month), which is standard for most BLS programs and provides a more accurate comparison for measures using data from those sources. JOB OPENINGS. Job openings include all open and available online openings during the reference period. This figure may include openings posted no more than 90 days prior but still active during the reference period, as well as new openings.
16
ONLINE JOB OPENINGS REPORT NOTES
ACTIVE RESUMÉS. Active resumés are all online resumés that have been created or otherwise modified during the reference period. This figure may include resumés posted no more than 90 days prior but still active during the reference period, as well as new resumés. Active resumés may include those created by out-of-state candidates. Candidates may post multiple online resumés so active resumés should not be interpreted as an individual candidate count. Active resumés are not necessarily an indicator of unemployment since candidates posting resumés may or may not be unemployed. SUPPLY/DEMAND RATES. Supply/demand rates, as outlined below, only provide a measure of relative slack of the labor market and whether a potential imbalance exists, but does not suggest that the qualifications of the job seekers directly align with the requirements of the advertised vacancies. Over time, these rates tend to trend closely with the general economic cycle, specifically labor market contractions/expansions. JOB OPENINGS RATE. The job openings rate is simply the percentage of all jobs in the economy open and available and is calculated by taking the number of job openings divided by total nonfarm employment (filled jobs) from the CES program plus job openings (unfilled jobs). The number of unfilled jobs is an important measure of the unmet demand for labor. With that statistic, it is possible to paint a more complete picture of the state's labor market than by looking solely at the unemployment rate, a measure of the excess supply of labor. A higher rate is an indicator of increased job opportunities for seekers. This supply/demand rate includes those working more than one job and commuting from out of state. Calculations for the U.S. job openings rate use data from the JOLTS. Due to timing issues, supplemental data used to calculate this rate typically lag one month, therefore the most recent published rate will lag one month in the latest published report. The U.S. data typically lag two months. ACTIVE RESUMÉS PER JOB OPENING. Active resumés per job opening is a supply/demand rate that uses active online resumés as the supply input and is the most timely of the supply/demand rates. For this measure, only local active online resumés (i.e. resumés tied to an in-state North Dakota address) were used in the calculation in order to get a more accurate measure of the local supply situation. Out-of-state resumés are excluded from this calculation. A result less than 1 indicates more job openings than local active resumés, while a result greater than 1 indicates more local active resumés than job openings. Also, this is the only supply/demand rate that generates results at the occupational group level. UNEMPLOYED PER JOB OPENING. Unemployed per job opening is a supply/demand rate calculated by taking the number of unemployed persons from the LAUS program and dividing by job openings. A result less than 1 indicates more job openings than potential resident labor supply, while a result greater than 1 indicates more potential resident labor supply than job openings. Calculations for the U.S. rate of unemployed per job opening are based on data from the JOLTS and the Current Population Survey (CPS) from the BLS. Due to timing issues, supplemental data used to calculate this rate typically lag one month, therefore the most recent published rate will lag one month in the latest published report. The U.S. data typically lag two months. OCCUPATIONAL DATA. Occupational groups are based on the 2010 SOC coding system. Openings and resumés are coded to the 6digit SOC level and 8-digit O*NET level whenever possible. Data are aggregated to the major occupational group level. UNEMPLOYMENT DATA. The unemployment data used in this report come from the CPS and the LAUS programs. Both programs provide timely and accurate data on the unemployed and are used to calculate supply/demand rates of unemployed per job opening. The unemployed are defined as those 16 years of age and older who were unemployed but actively seeking and available for work within the last month. REGIONAL DATA. The eight North Dakota regions were established in 1968 are made up of groupings of counties around a regional city center providing a majority of the services and exhibiting the greatest economic influence. Openings data are coded based on worksite location. Resumés data are coded based on the current residential address of the job seeker. While the regional reports are not as comprehensive as the statewide report, they do provide some local detail and comparisons not otherwise available. WAGE DATA. The average hourly wage data are the latest available from the Occupational Employment Statistics (OES) program. OES wage data provide an accurate, comprehensive, point-in-time snapshot of wage levels of currently employed workers across all 800 SOC occupations. These wage data should not be interpreted as an advertised wage for openings in that occupational group. Occupational wage data specific to the OJOR regions are not available, instead, state-level North Dakota occupational wages are provided as a general guide.
DATA INTERPRETATION
The OJOR contains a lot of data and information. For many, the issue becomes how to interpret it. While the top-line numbers get the most attention, the emphasis in interpreting the data should focus on the trend over time. Since the time series is not seasonally adjusted, the most appropriate comparison for any month should be the same month one year earlier.
17
ONLINE JOB OPENINGS REPORT NOTES
Job openings data reflect a relative demand for labor. Job openings include all open and available online openings. It should not be assumed that the published job openings number is the entirety of the job openings market. There is a segment of the job openings market that relies solely on means other than online to recruit workers. Those openings aren’t captured in the OJOR. Active resumés data reflect a relative supply of labor. Active resumés include all online resumés that have been created or otherwise modified by job seekers with a desire to work in North Dakota. Therefore, a segment of active resumés belong to out-of-state candidates. Candidates may post multiple online resumés so active resumés should not be interpreted as an individual candidate count. Active resumés are not necessarily an indicator of unemployment since candidates posting resumés may or may not be unemployed. It should not be assumed that the published active resumés number is the entirety of the potential labor supply market. For example, those unemployed who haven’t created an online resumé are not counted in the active resumé total. Similarly, “casual” job seekers who may peruse job openings but not create an online resumé are not included in the count. Supply/demand rates are a calculation used to reconcile the relationship between labor market demand (e.g. job openings) and labor market supply (e.g. active resumés, unemployed). The resulting ratios highlight the relative slack of the labor market for occupational groups and select geographies. Generally, supply/demand rates (e.g. active resumés per job opening, unemployed per job opening) below 1 indicate a greater need for workers in an occupational group or area. In other words, there’s not enough supply (workers) to keep up with demand (job openings). Generally, the opposite is true when supply/demand rates exceed 1. Of course, such an analysis only provides a general idea of where excess demand exists; it does not necessarily indicate a match if a candidate doesn’t have the individual education, skills, or experience to get hired. Caution should be exercised when interpreting supply/demand rates. Occupational groups and geographies with a small number of openings exhibit much more volatility and may skew a user’s interpretation of an area’s labor market situation. It’s important to reference the number of openings for an occupational group or geography in order to add context to any supply/demand analysis (high/low rates may mask a relatively small labor market demand and/or supply).This is especially true for geographies with small populations and labor forces. Career planning and exploration is an integral component to a successful work life. Students are increasingly being introduced to career planning and exploration activities early on in their academic life. In conjunction with other pieces of labor market information (e.g. projections, wages, skill requirements, etc.), the supply/demand data can alert students, educators, and counselors to excess supply or higher demand in certain occupational groups or geographies. For job seekers, the OJOR data can help focus job searches and highlight occupational groups and/or geographic areas with the greatest opportunities or toughest competition. The business community, economic developers, and policy makers use supply/demand data to track trends in the labor market. OJOR data can potentially highlight labor imbalances. This can be especially helpful if a business is looking to expand or relocate, therefore needing a supply of available workers. Economic developers and policy makers use the data to gauge the general health of the economy and look for opportunities to maximize labor supply and demand.
18
SOC CODE AND OCCUPATIONAL GROUP STRUCTURE
2012 AVERAGE WAGES